Tips for First Time Home Buyers in Cincinnati

Tips for First Time Home Buyers in Cincinnati

first time home buyer

To buy real estate or not to buy?   This is the real question!

There isn’t a magic checklist for buyers to use when deciding if it’s the right time to buy.

 It’s a great idea- but every first time home buyer is not created equal and my attempts to document checklists/guidelines usually end of up almost as thick as the yellow pages. Whether you live in West Chester, Liberty Twp, Mason or anywhere in greater Cincinnati there are too many details and way too many what ifs! 

So here are a few home buying questions to think about.

Some questions for first timers home buyers:

  1. What’s prompting you to think about buying a home or condo?
  2. Can you really afford to purchase?
  3. Did you sit down with a lender and get preapproved?

In short- what’s motivating you?  Have you done your homework to make sure you understand the cost of owning a home?  And finally, do you have enough money to buy- in short, did you spend time with a lender to obtain a pre-approval letter.  Many buyers don’t understand how picky lenders are about a variety of credit-related issues.

Things to think about when purchasing real estate:

  1. Can you afford to maintain interior and exterior?
  2. Do you like to cut the lawn, weed, paint, caulk and shovel snow?
  3. How long do you think you will be residing in the property?

Condo or home?  Do you have the time or the interest to take care of landscaping and exterior home maintenance?  If not, consider buying in a community where the exterior work is part of the HOA fee. (Home Owners Association)  And in today’s fast-paced real estate market properties sell quickly.  However, there are no guarantees the home you buy today will sell quickly for more money in a year or 2.  So if you are thinking of purchasing real estate as a short-term investment- think again.


Who is (are) the decision maker(s):

  1. You (the actual buyers)?
  2. Your parents or grandparents?
  3. Friends or coworkers?

Bidding wars, not enough homes for sale and mortgage interest rates creeping up require quick decisive action from today’s home buyers.  Waiting for approval from other family members could cause you to lose out on a great home.  Get the decision makers lined up ready to make quick decisions or let you decide without a committee. 

How do you find a Realtor®?

  1. Recommendation?
  2. Open House?
  3. Listing agent?
  4. Website or blog?

It really doesn’t matter how you find your Realtor®.   Just make sure you are comfortable working with and listening to them.  It’s really important to understand the “how to” of purchasing and stick to contract requirements and dates.  

Remember every real estate deal is unique! 

Buying real estate can be both a fun and frustrating experience.  The normal purchase usually requires house (or condo) hunting, writing a purchase contract, negotiating a contract, inspections, lender requirements, appraisals, negotiating again after the home inspection, securing property insurance and closing the transaction.  And every step in the process had to be completed properly or the closing on your dream home could be delayed or fall apart.

Informed first time home buyers have the best chances of getting to the finish line with keys to their new home.